Govt Agrees To Amend Trustee Acts To Prevent Misappropriation Of Funds
KUALA LUMPUR, The government has agreed to amend the Trustee (Incorporation) Act 1952 (Act 258) and the Trustee Act 1949 (Act 208) to prevent misappropriation of funds by the established trustees for purposes such as religious, social, and welfare activities. The matter was agreed upon during today’s meeting of the Special Cabinet Committee on National Governance (JKKTN), chaired by Prime Minister Datuk Seri Anwar Ibrahim. In a statement, the Prime Minister’s Office said that the amendment to Act 208 includes the definition related to beneficial ownership, those who benefit from the trust bodies, among other things. The amendment to Act